National Australia Bank Associate Interview Questions and Answers

Q1. What do you know about IFRS 9
Ans. 
IFRS 9 is an international financial reporting standard that addresses the classification and measurement of financial assets and liabilities.
• IFRS 9 replaced IAS 39 and introduced a new classification and measurement approach for financial instruments.

• It requires entities to classify financial assets based on their business model for managing the assets and their contractual cash flow characteristics.

• IFRS 9 also includ...read more
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Q2. Your understanding of product control
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Product control involves monitoring and analyzing the financial performance of products within a company.
• Monitoring revenue and expenses related to specific products

• Analyzing profitability and cost efficiency of products

• Identifying trends and making recommendations for product improvements

• Ensuring compliance with financial regulations and reporting standards

• Collaborating with various departments to gather data and insi
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Q3. Explain balance sheet substantiation
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Balance sheet substantiation involves verifying the accuracy and completeness of the items reported on a company's balance sheet.
• Process of reconciling balance sheet accounts to ensure they accurately reflect the financial position of a company

• Involves comparing account balances to supporting documentation such as bank statements, invoices, and contracts

• Identifying and investigating any discrepancies or errors to ensur...read more
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Q1. Explain Swap products
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Swap products are financial instruments where two parties agree to exchange cash flows or other financial assets.
• Swap products involve two parties exchanging cash flows based on a predetermined set of terms

• Common types of swap products include interest rate swaps, currency swaps, and commodity swaps

• These products are often used by companies to manage risk or speculate on market movements
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Q2. What do know about Mccaulay duration
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Q3. What do you know about front office and accouting pnl reco
Ans. 
Front office and accounting P&L reconciliation involves comparing the profit and loss statements from both departments to ensure accuracy.
• Front office is responsible for generating revenue through client interactions and trading activities.

• Accounting is responsible for recording financial transactions and preparing financial statements.

• P&L reconciliation involves comparing the revenue and expenses reported by the front...read more
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Effects of social media in our life

Q1. Explain your favorite advertise and why?
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Q2. Commercialization good or bad?
Ans. 
Commercialization can be both good and bad depending on the context and industry.
• Commercialization can lead to increased accessibility of products and services to a wider audience.

• It can drive innovation and competition in the market.

• However, it may also prioritize profit over ethical considerations or public welfare.

• Examples: Pharmaceutical industry commercializing life-saving drugs at high prices, tech companies comm
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Q1. Tell me abt yourself and communication skills
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Q2. Tell me abt yourself and communication skills and positive approach
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Q3. Should answer it honestly and communication Skills should be professional and should handle any roles given by organisation
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Q1. BACKGROUND EXP AND WHY ICICI
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Q2. WHERE DO YOU SEE YOURSELF IN 5 YEARS
Ans. 
In 5 years, I see myself as a Senior Associate leading a team and contributing significantly to the growth of the company.
• Advancing to a Senior Associate role

• Leading a team and mentoring junior associates

• Contributing to the growth and success of the company

• Continuing professional development and learning new skills
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Q1. Introduce yourself
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Q1. Why do you want to join axis bank?
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Q1. Question on REST architecture and Java
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Q2. Find output of java programs
Ans. 
Java programs output can be determined by running the code and observing the console or log files.
• Compile the Java code using a compiler like javac

• Run the compiled code using the Java Virtual Machine (JVM)

• Observe the output in the console or log files

• Output can be text, numbers, or other data types
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Q1. Basics of Spring Framework
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Q2. Java 8 Features and uses
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Java 8 introduced several new features including lambda expressions, streams, and functional interfaces.
• Lambda expressions allow for functional programming and simplify code

• Streams provide a way to process collections of data in a functional way

• Functional interfaces allow for the use of lambda expressions

• Default methods allow for adding methods to interfaces without breaking existing implementations

• Date and time API im
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Q3. Streams and their applications
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Streams are a sequence of data elements that can be processed in parallel or sequentially. They are used in various applications.
• Streams are used for data processing, such as filtering, mapping, and reducing.

• They are also used for I/O operations, such as reading and writing files or network sockets.

• Streams can be parallelized to improve performance on multi-core systems.

• Examples of stream-based APIs include Java 8 Stre
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Q4. Find second largest number using stream
Ans. 
Using stream, find the second largest number.
• Sort the stream in descending order and return the second element.

• Use the reduce() method to compare and find the second largest number.

• Create a priority queue and add elements to it. Pop the second largest element from the queue.
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Q1. Spring Boot features and uses
Ans. 
Spring Boot is a framework for building standalone, production-grade Spring-based applications.
• Provides a simplified way to create Spring applications with minimal configuration

• Includes an embedded Tomcat, Jetty or Undertow server for easy deployment

• Supports auto-configuration, which automatically configures Spring based on dependencies

• Offers a wide range of starter dependencies for common use cases

• Enables easy integra...read more
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Q2. Questions on previous projects and technical challenges
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Q1. Salary structure and benefits were explained
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